Pickens is announcing his gift at an event Friday to announce the start of a $1 billion campaign to raise money to fund scholarships, faculty positions, research and buildings at the Stillwater school.

OSU president Burns Hargis says that, of the $1 billion to be raised, $500 million would be used to endow scholarships and fellowships for students.

Pickens' latest gift brings his donations to OSU to more than $400 million.